Gotbit Founder Forfeits $23M in Cryptocurrency Market Manipulation Plea Deal.

Alex Andryunin, the founder of Gotbit, a now-defunct cryptocurrency exchange, has entered into a plea agreement with US Attorney Leah B. Foley of the District of Massachusetts.

Alex Andryunin, the founder of now-defunct cryptocurrency exchange Gotbit, has entered into a plea agreement with US Attorney Leah B. Foley of the District of Massachusetts.

The deal, which was signed yesterday (March 19) and is set to be filed in court today, addresses charges of wire fraud and cryptocurrency market manipulation that were brought against the Russian national.

This development signals a significant turn in a case that has drawn attention to illicit practices within the crypto industry.

Gotbit Founder Forfeits $23M in Crypto Market Manipulation Plea Deal.

The #Gotbit founder's plea agreement could result in no prison time and no additional fines beyond the forfeiture, pending court approval.

Andriunin's involvement with Gotbit's operations caused financial... https://t.co/9fZ3z00r6R

— CryptoDaku (@CryptoDaku_) March 20, 2025

Andryunin has agreed to forfeit $22.9 million in stablecoins as part of the plea deal. The eight-figure stash comprises $18.7 million USDT and $4.2 million USDC.

According to a court document, these stablecoins were technically owned by the Gotbit exchange and are under Andryunin’s exclusive control.

The agreement will see Andryunin plead guilty to three charges: one count of conspiracy to commit wire fraud and market manipulation, and two counts of wire fraud. These charges carry potential prison sentences of five and twenty years, respectively.

Originally, these charges could have led to decades behind bars, along with fines, restitution, and supervised release. However, the plea deal significantly softens the punishment.

The US Attorney’s office has agreed to recommend a reduced sentence of up to 24 months in prison, followed by 36 months of supervised release. Andryunin will face no additional fines beyond the forfeiture of the stablecoins.

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